2025-2026 Graduate Catalog | 20263

ECON 5040 Environmental Economics (3 credits)

Examines environmental problems as consequences of market's failure to accurately value environmental resources. Alternative private and public policies are examined in terms of their effectiveness in improving the efficiency and equity with which water, air, and other resources are allocated. (Also offered under ENVR 5040.)
Common Course Outline

ECON 5500 Forestry and Natural Resource Economics (3 credits)

This course is a companion to Environmental Economics, focused less on theory and more on application of the principles of Microeconomics (e.g., the Cost-Benefit Principle) to specific natural resources. We will apply the tools of microeconomics to economic and natural resource management decisions. Students will learn the basics of sustainability and how to apply it in a variety of settings with the goal of maintaining economic viability across time, often with multiple uses in mind, to gain an understanding of optimal management. For example, students will calculate timber harvest rotations, apply knowledge of various certification systems used to assess the sustainability of forest management practices and explore how these systems impact forestry practices and output availability, as well as how to sustainably maximize fish harvests. Prerequisite(s): None.
Common Course Outline